We really haven’t spent time talking about financial stages. If you was to get financially secure, you’ll need to know where you are and where you are going. Learn what stage you are at and how you can process to the next level. This can begin your journey to financial abundance.
Financial Stages Show Notes:
Stage 0: Financial Dependence – Needing the support of parents, welfare, or creditors.
Stage 1: Financial Solvency – supporting yourself on your own income without the help of others. Current on all your bills.
Stage 2: Financial Stability – Having an emergency fund, rainy day fund, cash reserves, or buffer account.
Stage 3: Debt Freedom – Paying off all credit cards, car loans, consumer debt, student loans, and mortgages.
Stage 4: Financial Security – Investments & passive income pays for your basic living expenses.
Stage 5: Financial Independence – Investments & passive income pay for your lifestyle expenses.
Stage 6: Financial Freedom – Investments & passive income pays for your lifestyle and future goals or endeavors.
Stage 7: Financial Abundance – Investments & passive income pay for more then your needs & wants.